699-701 Frelinghuysen Ave, Newark City, NJ 07114
699-701 Frelinghuysen Ave, Newark City, NJ 07114
699-701 Frelinghuysen Ave, Newark City, NJ 07114
699-701 Frelinghuysen Ave, Newark City, NJ 07114
699-701 Frelinghuysen Ave, Newark City, NJ 07114
699-701 Frelinghuysen Ave, Newark City, NJ 07114
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

+1(201) 240-5200
$ 1,450,000
Est. payment | /mo

11,650 SqFt

Save
$ 1,450,000
Est. payment | /mo
Save

11,650 SqFt

Key Details

Property Type Commercial

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 11,650 sqft

Price per Sqft $124

MLS Listing ID 4048432

Annual Tax Amount $10,749

Tax Year 2025

Lot Size 4,356 Sqft

Property Sub-Type Mixed Use

Property Description

Positioned directly adjacent to the Lionsgate development, this mixed-use commercial building offers investors a rare value-add opportunity in one of Newark's most active growth corridors. The ground floor features a cigar shop operating under an active lease, delivering immediate in-place income from day one, alongside a separate vacant warehouse space with adjoining office area ready for an owner-user, new tenant, or repositioning to suit market demand. The second floor holds 6 residential units offering significant upside through lease-up, renovation, and rent stabilization to market rates. This is a true value-add play ? a stabilized retail anchor providing carrying income while the vacant warehouse/office and residential units offer multiple paths to increase NOI, whether through lease-up of the vacant commercial space, unit-by-unit renovation of the second floor, or a broader repositioning of the asset to capture rising rents in the immediate area. Its location next to Lionsgate places the property directly in the path of one of Newark's most significant nearby developments, with the surrounding neighborhood poised to benefit from that growth, making this an ideal fit for value-add investors, owner-users seeking commercial space with income-producing upside, or investors looking to build a multifamily/commercial hold in an emerging Newark submarket.

Location

State NJ

County Essex

Zoning Commercial

Interior

Heating Gas-Natural

Cooling See Remarks

Equipment Fire Alarm

Heat Source Gas-Natural

Exterior

Exterior Feature Brick/Block

Garage Spaces 1.0

Utilities Available Gas-Natural

Roof Type Flat

Building

Story 2

Sewer Public Sewer

Water Public Water

Others

Ownership Fee Simple

Garden State MLS(GSMLS)
Information deemed reliable but not guaranteed. Copyright © 2026 Garden State Multiple Listing Service, L.L.C. All rights reserved.
Listed by EXP REALTY, LLC
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Thomas "Chopper" Russo

Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

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699-701 Frelinghuysen Ave

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